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Author Topic: Setting up nodes.  (Read 268 times)
ArkiCrypto (OP)
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July 11, 2018, 12:15:41 PM
 #1

Good day,

I'm really no have any knowledge in regards with any technicals stuffs including setting up nodes right now i'm having trouble in regards with this since I want to setup a masternode but I don't have prior knowledge about it, Is it okay to ask here about technical stuffs?

here's the questions:
1. How can i set up masternodes (I tried to do a research and watching online but I'm still confused)
2. Do I need to have a VPS in order to create a node?
3. What does the VPS do in regards with setting up node?
4. Is it risky? Or atleast may I know what are the risk I will face when I setup a node?

Thank you if someone will going to answer this and give some other infos about setting up nodes for a people like me who's profession is far away from this technical stuffs.
starmyc
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July 11, 2018, 12:51:50 PM
Merited by odolvlobo (1), ABCbits (1)
 #2

I'm really no have any knowledge in regards with any technicals stuffs including setting up nodes right now i'm having trouble in regards with this since I want to setup a masternode but I don't have prior knowledge about it, Is it okay to ask here about technical stuffs?

here's the questions:
1. How can i set up masternodes (I tried to do a research and watching online but I'm still confused)

In bitcoin, there is no such thing as "masternode". There are "masternode" for some other coins, and you should refer to their documentation to know more about.

2. Do I need to have a VPS in order to create a node?

No, any recent computer (< 10 years old) will do it, as long as it is connected to internet and you launch the Bitcoin daemon or wallet.

Hi, I'm just some random software engineer.
You can check my projects: Bitcoin & altcoin balances/addresses listing dumps: https://balances.crypto-nerdz.org/
rpstatic
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July 13, 2018, 07:13:44 AM
 #3

1. How can i set up masternodes (I tried to do a research and watching online but I'm still confused)

This is different from coin to coin. The best way to test it out is to search for a coin which has maternodes and a active testnet. Then you can just ask for coins on the testnet (they do not have any worth) and create a test setup.

2. Do I need to have a VPS in order to create a node?

No, but it is probably recommended. You don't know which kind of software you are executing, even if it's open source. Not every new altcoin is reviewed.

3. What does the VPS do in regards with setting up node?

VPS stand for Virtual Private Server and is in the most cases just a separated Environment (An Operating System on Shared Hardware Resources) on a server.

4. Is it risky? Or atleast may I know what are the risk I will face when I setup a node?

Yes, could be. There are also many scams and they can infect your computer with malware.
electronicash
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July 16, 2018, 12:27:52 AM
 #4

there were users in the services section offering themselves to set up masternodes for a price. i think it was just $50. bitcoin is POW though there isn't masternodes for that.

basically, you need to choose which coin. acquire the minimum amount of collateral coins for the masternode setup in your VPS. they suggest digitalocean for the VPS. you can then ask the dev team of the coin you chose about their guide in setting up nodes.

cellard
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July 16, 2018, 01:31:29 AM
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No, any recent computer (< 10 years old) will do it, as long as it is connected to internet and you launch the Bitcoin daemon or wallet.

I would recommend a SSD as a must these days. The difference from HDD is notable. Also be sure to have a decent amount of RAM. Anything less than 8 GB and you might struggle. Many computers from around 8 years ago still had 4 GB. 8GB minimum is a must. On the CPU front, I've tried with a 10 year old quadcore and it works, given that the hard disk and ram part are covered. Internet wise you also must have decent bandwith and upload speed decent enough to help other peers.
Kallisteiros
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July 17, 2018, 10:50:06 AM
 #6

Keep in mind that if your node is not configured to run in a pruning mode (with -prune= flag), be ready to set aside at least 160 GB of storage space  (current Bitcoin blockchain size in July 2018). Probably best to set up pruning.

It's very easy these days if you have even a basic knowledge of Linux terminal. Just spin up a Ubuntu VPS, do "sudo apt install bitcoin", and there you go, you can start it by doing "bitcoind -daemon" and see what's going on by running "bitcoin-cli getinfo".

But word of caution: It is easy for people not familiar with server administration to set up a Bitcoin node on a VPS. But it's much harder to make it a secure one. Disabling root access, changing ssh port, closing all unused ports with a firewall, auto-upgrading software are usually among the best practices. Consider those risks before sending bitcoins to your node.

And as others mentioned, there's no concept of masternodes in Bitcoin. You won't earn any bitcoin just by running a node, there's no staking either. The only way to earn bitcoin is to mine it. The upside of running a node is that you don't have to trust anybody when you query the blockchain for your needs, accept payments or send them. SPV wallets like Electrum, web wallets, exchanges -- they all require some level of trust in the service provider. Choose according to your needs.
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July 19, 2018, 04:19:15 AM
 #7

Good day,

I'm really no have any knowledge in regards with any technicals stuffs including setting up nodes right now i'm having trouble in regards with this since I want to setup a masternode but I don't have prior knowledge about it, Is it okay to ask here about technical stuffs?

here's the questions:
1. How can i set up masternodes (I tried to do a research and watching online but I'm still confused)
2. Do I need to have a VPS in order to create a node?
3. What does the VPS do in regards with setting up node?
4. Is it risky? Or atleast may I know what are the risk I will face when I setup a node?

Thank you if someone will going to answer this and give some other infos about setting up nodes for a people like me who's profession is far away from this technical stuffs.

Hello,

So first, you need understood what is a masternode.

This is my concept: Masternodes is a node that can run a blockchain to server peers, and transactions , requests, etc. Basicly you will be a node inside the network, similar a one miner, but your machine is runnuing all time , serving the access to a blockchain.

How can you run a masternode ?

First you need a some number of coins to run, this is choosed by creator of blockchain , you can take a look onn https://masternodes.online/ you will see how much coins you need to run a masternode.

After you have the coins, you need setup a blockchain. On 99% of cases you will need run a blockchain, each blockchain have a tuturial. Basicly all masternodes ( 99%) uses RPC communication , similar to bitcoin, so , try run a bitcoin node, if you have a success you can go ahead with masternode setup.

And how can you setup a node of bitcoin -> https://bitcointalk.org/index.php?topic=3175836.msg42447020#msg42447020 ( portuguese, but you can read easily the comands on ubuntu)

After you have a success with a node btc, now you can start. You need choose a coin, this is a big problem , a lot of coins created every day, many options, and 90% of that is scam coins. Masternodes in general is a scam, you can search and see a looooottttt of scams masternodes.

On the concept , they try create a new coin to be used, but who will use XYZZcoin , every day ?

So all masternode investiment have a high risk to loose everything invested.

The VPS is simple, in general you just need a good network , on my another post . (link on top) ,you can see 4 options of vps to run a nodes.

My personal experience  :

 - Not SCAM but big down . QBIC , i loose ~8ETH on the past
 - SCAM SAROS - big down - i loose 2ETH, on the past
 - POLIS - A good surprise, the coin every day show more strong portifolio, and dev team is making a good job.
 - MIRQ - Looks a SCAM, i bougth and sell 2 weeks after launch.
 - DINERO - I dont know.. lol - i loose 3 eth, the coin still runnning.
 
I run a masternode for every cited coin above, my experience, forgot this and buy bitcoin, save in your ledger or trezor, forgot to 1 year or 2. And got a big profit  Wink

I hope this tips can help you Smiley

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